Mumbai, Mar 18: The BSE benchmark index Sensex jumped over 900 points to reclaim the 75,000-mark during the morning trade on Tuesday in-tandem with a positive trend in global markets and buying in bank stocks.
Extending its previous day’s rally, the 30-share BSE Sensex jumped 901.43 points to 75,071.38 during the morning trade. The NSE Nifty also surged 265.9 points to 22,774.65.
From the Sensex pack, Zomato, ICICI Bank, Asian Paints, Larsen & Toubro, Mahindra & Mahindra, Tata Motors, NTPC, Adani Ports and Hindustan Unilever were among the biggest gainers.
However, Bajaj Finserv, Bajaj Finance, Reliance Industries and IndusInd Bank were the laggards.
Shares of Bajaj Finserv declined 2 per cent after the financial services firm signed Share Purchase Agreements for the acquisition of 26 per cent stake owned by Allianz SE of Germany in its insurance businesses Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company.
Among Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading in the positive territory.
US markets ended higher on Monday.
“Broad indications are that the market has bottomed out even though further corrections cannot be completely ruled out. Positive domestic cues like rebound on FY25 Q3 GDP growth to 6.2%, spurt in IIP, increase in gross tax collection, declining trade deficit and more importantly decline in CPI inflation to 3.6% are positive macro trends which augur well for the market,” V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.
But these domestic tailwinds are not strong enough to take the market to higher levels on a sustained basis since the global headwinds from tariff wars will counter the domestic tailwinds, he added.
Global oil benchmark Brent crude climbed 0.32 per cent to USD 71.33 a barrel.
Foreign institutional investors (FIIs) offloaded equities worth Rs 4,488.45 crore on Monday, while Domestic Institutional Investors (DII) bought worth Rs 6,000.60 crore, according to exchange data.
The Sensex climbed 341.04 points or 0.46 per cent to settle at 74,169.95 on Monday, snapping its five-day losing run. The Nifty rose by 111.55 points or 0.50 per cent to 22,508.75. (PTI)
